OIL PRICES

 

Gloomy Economic News And Iran Threat Driving Crude Prices

Gloomy economic news and ample supply continue to put downward pressure on US oil prices. However, Tehran’s threat to shut the Strait of Hormuz in retaliation against tightening sanctions provided a support for oil markets last week. The Eurozone conundrum is giving rise to concern that its economic mess is pulling the global economy down, while US economic indicators do not...